08:06 AM EST, 01/27/2025 (MT Newswires) -- Canada will release November's gross domestic product data as well as an advance estimate for December on Friday, noted RBC.

Friday's Canadian November GDP report should show a 0.1% contraction from October, said the bank. Manufacturing, retail, and wholesale sale volumes all posted declines in November and oil production in Alberta appears to have largely reversed a sizable October gain.

However, early data for December looks firmer with household spending bouncing back in part tied to delayed holiday shopping ahead of Cyber Monday and the start of the GST/HST holiday in mid-December, added RBC.